Quote of the Day

"The presence of competitors keeps a company sharp and, in some cases, it actually serves to validate the market and expand the TAM. In America, we celebrate competition as a prod that forces us to do better and innovate harder."

(Joshua Brown)

Chart of the Day

Existing home sales continue to bump along at multi-decade low levels.

(calculatedrisk.substack.com)

Markets

Housing

New York City

Public health

Economy

Earlier on Abnormal Returns

Mixed media

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